Torquay leasehold conveyancing: Q and A’s
I am on look out for some leasehold conveyancing in Torquay. Before I get started I require certainty as to the remaining lease term.
Assuming the lease is registered - and 99.9% are in Torquay - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
Estate agents have just been given the go-ahead to market my 2 bed flat in Torquay.Conveyancing solicitors are to be appointed soon but I have just had a quarterly maintenance charge demand – Do I pay up?
The sensible thing to do is clear the service charge as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most management companies will not acknowledge the buyer unless the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.
I own a leasehold house in Torquay. Conveyancing and Clydesdale mortgage went though with no issue. A letter has just been received from someone saying they have taken over the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1991. The conveyancing practitioner in Torquay who acted for me is not around.Do I pay?
The first thing you should do is contact HMLR to be sure that this person is indeed the new freeholder. There is no need to incur the fees of a Torquay conveyancing practitioner to do this as it can be done on-line for a few pound. You should note that in any event, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I've recently bought a leasehold house in Torquay. Am I liable to pay service charges relating to a period prior to my ownership?
Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
Completion in due on the disposal of our £125000 flat in Torquay on Friday in a week. The managing agents has quoted £300 for Landlord’s certificate, building insurance schedule and previous years service charge statements. Is it legal for a freeholder to charge exorbitant fees for a leasehold conveyance in Torquay?
Torquay conveyancing on leasehold maisonettes normally necessitates the purchaser’s solicitor submitting enquiries for the landlord to answer. Although the landlord is not legally bound to answer these enquiries most will be content to assist. They may levy a reasonable charge for answering questions or supplying documentation. There is no set fee. The average fee for the information that you are referring to is £350, in some cases it is above £800. The administration charge invoiced by the landlord must be sent together with a synopsis of rights and obligations in relation to administration charges, otherwise the invoice is technically not due. Reality however dictates that you have no choice but to pay whatever is demanded if you want to exchange contracts with the buyer.
Torquay Conveyancing for Leasehold Flats - A selection of Questions you should ask Prior to buying
You will want to find out as much as you can regarding the managing agents as they can either make your living at the property much simpler or uncomfortable. Being a leasehold owner you will be at the mercy of the managing agents both financially and when it comes to practical issues such as the upkeep of the common parts. Enquire of other tenants what they think of them. On a final note, be sure you know the dates that you are obliged pay the maintenance charge to the appropriate party and precisely what it includes.
How much is the service charge and ground rent on the flat?
What is the name of the managing agents?